Ernst & Young To Pay $99M To Settle Lehman Litigation

Law360, Los Angeles (October 16, 2013, 9:47 PM EDT) -- Ernst & Young LLP has agreed to pay $99 million to settle claims in an investor class action against former officials and auditors of Lehman Brothers Holdings Inc., ending long-running multidistrict litigation over the bankrupt company’s securities offerings, according to a memo released Wednesday.

Ernst & Young's settlement announcement, which was submitted Friday to U.S. District Judge Lewis A. Kaplan but not docketed until Wednesday, brings the recovery on behalf of the plaintiffs — who are institutional and individual Lehman investors — to $735 million, their...
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Case Information

Case Title

In Re: Lehman Brothers Securities and ERISA Litigation


Case Number

1:09-md-02017

Court

New York Southern

Nature of Suit

Labor: E.R.I.S.A.

Judge

Lewis A. Kaplan

Date Filed

January 9, 2009


Case Title

In Re: Lehman Brothers Equity/Debt Securities Litigation


Case Number

1:08-cv-05523

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Lewis A. Kaplan

Date Filed

June 18, 2008

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